All rateable values are generally reassessed every five years at a general revaluation to ensure bills paid by any one ratepayer reflect changes over time in the value of their property relative to others. The current rating list is based on the 2010 revaluation. Subject to royal assent being granted to the Growth and Infrastructure Bill, the next revaluation will be postponed until 2017 to provide greater stability for businesses to encourage economic growth.
Five yearly revaluations will continue from 2017. For those ratepayers who would otherwise have seen significant increases in their rates liability, the Government has put in place a transitional relief scheme to limit and phase in changes. The transitional arrangements are applied automatically to your demand notice.